Money & Me: 'I own eight properties worth Dh25 million and plan to retire before I’m 40’

For the first nine years Shabbash Khan owned properties in the UAE, he did not live in any of them. He rented a flat while his assets appreciated, reinvested the rental income and used equity to buy more. It was a deliberate strategy – but last month he finally moved into one of his own homes for the first time.

Khan, 35, is a performance director at a digital media agency. He holds eight properties across three emirates – five in Dubai, two in Abu Dhabi and one in Sharjah – with a combined value of about Dh25 million and has a net worth of close to Dh10 million. He says he has already identified when he plans to stop working: before he turns 40.

How did money feature in your childhood?

I learnt to understand what is important. Impulse buying and showing off to other people do not take you anywhere. Rich people are not defined by a fancy home or fancy car. Rich people have time at their disposal. If tomorrow you have to wake up and go to the office, then you're not rich. You might be earning Dh30,000, Dh50,000, Dh100,000 – and if you are just one pay cheque away from bankruptcy, you're not rich.

The more you grow, the more time and the connections you have with family are more important than working for someone. And one more thing I understood in childhood is, if you trade time, you can never win that game. Everybody – Elon Musk, yourself, myself – everybody has 24 hours. The universe has made it a point. How come one person runs five different companies, and the other person lives pay cheque to pay cheque?

What was your first job? What did you earn?

I worked in a media agency back in India. I started as a marketing executive in a digital agency. It was peanuts – I don't even remember now. Less than 1,000 rupees.

What was your approach when you arrived in Dubai?

My father lent me some money for expenses. From there, I saw Dubai as a land of opportunity.

I started comparing India versus UAE. I saw that the more investment I do in Dubai, it is giving me much more returns. A simple thing is the currency peg – UAE currency is pegged to dollars, and the rupee is relatively flat. Even if I keep the currency in dirhams, I'm still making more money than in India.

Show caption: Mr Khan plans to retire before he's 40. Antonie Robertson / …

Then I considered what to do with my savings. I saw the rental returns were much higher. India gives me two or three per cent; UAE easily gives me six to eight per cent. So in the first two years, whatever money I had saved, I invested in real estate.

Still I have the same job – one job. If you look at my salary increase over the years, that's hardly anything. But if you look at my portfolio today, I hold Dh26 million worth of property in UAE. And close to Dh10 million I own – that is my net worth.

The first million was super hard, because that came from salary, savings, personal loan, the money that was coming in. But the second and third million happened relatively faster.

Salary increases at a marginal pace, but when you hold so many properties, even if every property increases little by little, your portfolio gets built up.

What is your best investment?

Real estate. I know some people have found their niche in crypto, some in gold. But for me – focus on something that you cannot make. Be it gold, be it real estate, which you cannot make more of. Stick to that. That value will definitely increase. So I would suggest gold and real estate as the primary ones.

Any cherished purchases?

I wanted fancy cars. I got a BMW – a childhood dream – and trust me, it is more expensive than what I imagined. It just takes me from point A to point B. I realised that after two years of having a BMW.

The thing that I cherish is having a roof on top of my head. The emotional satisfaction and guarantee it gives you.

I cherished buying my first property. Before 30, I had multiple properties. If I could give one piece of advice: start early. If you start at 40, you will never be ahead of the race the way you are if you do it in your 20s.

What financial advice would you give your younger self?

Two things. One: read books. Your experience is not enough to sustain you in this world. It is highly important that you read more, and try to understand other people's philosophy.

And second: whatever you do, do it passionately. If you wake up early in the morning and do something just for the sake of it, I don't think you can go anywhere.